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Healthcare Assistive Robot Market - By Product (Surveillance & Security, Humanoid, Rehabilitation, Socially Assistive), By Portability (Fixed Base, Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, Sports) & Forecast, 2023 – 2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Healthcare Assistive Robot Market - By Product (Surveillance & Security, Humanoid, Rehabilitation, Socially Assistive), By Portability (Fixed Base, Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, Sports) & Forecast, 2023 – 2032

Healthcare Assistive Robot Market Size

Healthcare Assistive Robot Market size was valued at around USD 514 million in 2022 and is projected to reach over USD 3.2 billion by 2032 owing to increasing technological advancements and automation in the healthcare industry.

 

Healthcare Assistive Robot Market

Rising healthcare spending for providing better healthcare infrastructure, increasing disposable income, consistently increasing geriatric population, and surging automation levels in healthcare settings are some of the major factors responsible for increased adoption of healthcare assistive robot across the world. Moreover, advancements pertaining to healthcare assistive robot with regards to its applications, functionality, and accuracy will influence the business progression positively.

 

Healthcare assistive robots are robots designed to aid and support to patients and healthcare professionals in various medical settings. They are intended to enhance patient care and improve healthcare outcomes by increasing efficiency, reducing the workload of healthcare workers, and providing personalized care to patients.

 

However, functional limitations and high cost of healthcare assistive robots can be a significant barrier and impede the market growth in the coming years. Functional limitations of these robots can restrict their use in certain situations such as navigate complex environments or perform intricate tasks, thereby limits their use in some healthcare settings. Additionally, high cost of these robots is among the major factor that affects its adoption in developing countries. High research & development cost, and high cost of system leads to inflated cost of the final product. Moreover, limited companies are providing such advanced robotic systems and are priced at a higher level.

 

COVID-19 Impact

The recent outbreak of COVID-19 had negatively influenced the healthcare assistive robot market revenue, specifically during the first half of 2020. The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during initial phase of 2020. These conditions negatively impacted the market growth in the initial quarters in 2020, although later the market recovered, thereby mitigating the initial impact. Hence, the COVID-19 pandemic did not have a substantial impact on the market, and the market continued its growth trajectory in 2021.
 

Healthcare Assistive Robot Market Trends

The elderly population aged 65 years and older are more prone to chronic diseases and other conditions resulting in physical disability. Healthcare assistive robots aid in several ways by providing assistance and support to geriatric patients and healthcare professionals. There is a considerable rise in number of cases of falls for elderly persons globally. For instance, healthcare assistive robots can be used to monitor the health status of elderly patients, remind them to take medication, and assist with mobility and rehabilitation exercises. Rise in trauma cases including falls, are a key factor necessitating the demand for healthcare assistive robots globally. Thus, rise in geriatric population will fuel the target pool for various conditions such as post-surgical infections, degenerative and metabolic conditions, thereby fuelling the market growth.

 

Healthcare Assistive Robot Market Analysis

Healthcare Assistive Robot Market Size, By Product,

Based on product, the healthcare assistive robot market is segmented as surveillance & security robot, humanoid robot, rehabilitation robot and socially assistive robot. Rehabilitation robot dominated the market in 2022 accounting for more than 41% of the total business share. Rapid adoption of technologically advanced robotic equipment in the healthcare sector, increase in healthcare spending, availability of advanced devices and trained personnel in rehabilitation facilities are some of the factors anticipated to drive the industry progress. Moreover, incorporation of advanced technologies in products for disease specific treatment and increase in target population will further propel the market expansion.

 

Global Healthcare Assistive Robot Market Share, By Portability,

Based on portability, the healthcare assistive robot market is segmented as fixed base and mobile. The mobile segment is projected to grow at a 21.4% CAGR from 2023-2032. This high market share is owing to several clinical benefits offered by mobile healthcare assistive robots for patients as well as healthcare professionals. Some of the major benefits of mobile robots include improve access for individuals that find difficulty in traveling to healthcare facilities. Additionally, these robots offer personalized care, thereby improving patient outcomes by providing timely and accurate care, monitoring patients, health status, and providing emotional support and companionship with enhanced efficiency.

 

Based on application, the healthcare assistive robot market is segmented as stroke, orthopedics, cognitive & motor skills, sports, and others. The stroke segment was valued at over USD 131 million in 2022. This majority segmental growth is owing to the availability of advanced healthcare assistive robots, better medical accessibility during emergency situations, better recovery, etc. Healthcare assistive robots can be used to monitor vital signs and motor function, enabling healthcare professionals to detect changes in patient’s conditions and provide timely interventions. These robots provide personalized rehabilitation interventions and emotional support enabling enhanced efficiency, improved quality of life and increased patient outcomes.

 

North America Healthcare Assistive Robot Market Size,

North America healthcare assistive robot market is predicted to reach USD 1.1 billion by 2032. This market share is attributable to numerous variables including the presence of key market players, an increase in the number of chronic diseases, and rising awareness regarding the benefits of precise healthcare assistive robot for diagnosis and treatment among others. Moreover, increasing incidence of orthopedic disorders have fueled the demand for healthcare assistive robot for orthopedic procedures in the region. According to the Personalized Orthopedics of the Palm Beaches data, in 2020, approximately 11% of knee reconstruction surgeries were completed with the support of robotic assistance. As the incident cases of orthopedic ailments and other chronic diseases continues to rise in the region, the demand for efficient, proven, and effective healthcare assistive robot has propelled significantly.

 

Healthcare Assistive Robot Market Share

Some of the major players operating in the healthcare assistive robot market are

  • Barrett Technology, LLC
  • Cyberdyne, Inc.
  • Ekso Bionics Holdings, Inc.
  • GaitTronics Inc.
  • Hansen Medical, Inc.
  • Hocoma AG
  • HONDA Motor Co. Ltd.
  • Interactive Motion Technologies, Inc.
  • Kinova Robotics
  • ReWalk Robotics Ltd.
  • SoftBank Robotics Corp.
  • OmniCell
     

These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

 

Healthcare Assistive Robot Industry News

  • In January 2019, BIONIK Laboratories Corporation announced the launch of InMotion ARM/HAND robotic system to improve rehabilitation for stroke survivors. This robotic system is incorporated with enhanced hand-rehabilitation technology and utilizes artificial intelligence and data analysis to provide individualized therapy that empower patients. This innovative product launch helped the company to increase their product portfolio and enhance their business revenue.
     
  • In November 2019, Intuitive Surgical Inc. announced that they had received the U.S. FDA approval for Intuitive’s E-100 generator for two of the da Vinci surgical systems to help improve procedures that require sealing. This generator powers da Vinci X and Xi systems and offers enhanced capabilities in general surgery. This approval helped the company to enhance their R&D capabilities and increase their market value.
     

Healthcare assistive robot market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments

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By Product, 2018 - 2032 (USD Million & Units)

  • Surveillance & Security Robot
  • Humanoid Robot
  • Rehabilitation Robot
  • Socially Assistive Robot

By Portability, 2018 - 2032 (USD Million)

  • Fixed base
  • Mobile

By Application, 2018 - 2032 (USD Million)

  • Stroke
  • Orthopedics
  • Cognitive & Motor Skills
  • Sports
  • Others  

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Sweden
    • Switzerland
    • The Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Egypt
    • Turkey
       

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )